Sendero Wealth Management LLC Raises Position in Autodesk, Inc. (NASDAQ:ADSK)

Sendero Wealth Management LLC lifted its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 2.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,026 shares of the software company’s stock after purchasing an additional 321 shares during the quarter. Sendero Wealth Management LLC’s holdings in Autodesk were worth $3,313,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADSK. Mesirow Financial Investment Management Inc. lifted its stake in shares of Autodesk by 1.1% during the second quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock worth $959,000 after buying an additional 44 shares during the period. Johnson Investment Counsel Inc. raised its stake in shares of Autodesk by 5.1% in the second quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock worth $228,000 after purchasing an additional 45 shares during the last quarter. Beacon Financial Group boosted its position in Autodesk by 4.1% in the fourth quarter. Beacon Financial Group now owns 1,248 shares of the software company’s stock valued at $304,000 after buying an additional 49 shares during the last quarter. First Affirmative Financial Network increased its holdings in Autodesk by 2.8% in the 1st quarter. First Affirmative Financial Network now owns 1,802 shares of the software company’s stock worth $469,000 after buying an additional 49 shares during the period. Finally, InTrack Investment Management Inc raised its position in Autodesk by 2.3% during the 2nd quarter. InTrack Investment Management Inc now owns 2,189 shares of the software company’s stock worth $542,000 after buying an additional 49 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Price Performance

Shares of Autodesk stock traded down $0.34 on Thursday, hitting $276.54. 269,320 shares of the company were exchanged, compared to its average volume of 1,610,563. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average price of $256.93 and a 200 day moving average price of $240.75. The stock has a market capitalization of $59.60 billion, a price-to-earnings ratio of 59.93, a price-to-earnings-growth ratio of 3.41 and a beta of 1.48. Autodesk, Inc. has a 1-year low of $192.01 and a 1-year high of $279.53.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm earned $1.12 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on ADSK. The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. BMO Capital Markets boosted their price objective on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a report on Friday, August 30th. Mizuho raised their target price on Autodesk from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Berenberg Bank boosted their price target on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a report on Friday, August 30th. Finally, Rosenblatt Securities raised their price objective on shares of Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $290.47.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the sale, the chief operating officer now directly owns 17,099 shares in the company, valued at approximately $4,616,730. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,280 shares of company stock worth $5,183,340. Company insiders own 0.14% of the company’s stock.

Autodesk Profile

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.